Coinbase Global, Inc. (NASDAQ:COIN) Director Purchases $337,897.98 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Tobias Lutke acquired 4,482 shares of Coinbase Global stock in a transaction dated Tuesday, September 13th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $337,897.98. Following the completion of the purchase, the director now directly owns 54,583 shares of the company’s stock, valued at approximately $4,115,012.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tobias Lutke also recently made the following trade(s):

  • On Wednesday, September 7th, Tobias Lutke acquired 5,894 shares of Coinbase Global stock. The shares were bought at an average cost of $62.00 per share, for a total transaction of $365,428.00.
  • On Tuesday, August 30th, Tobias Lutke acquired 5,577 shares of Coinbase Global stock. The shares were bought at an average cost of $67.95 per share, for a total transaction of $378,957.15.
  • On Tuesday, August 23rd, Tobias Lutke acquired 5,177 shares of Coinbase Global stock. The shares were bought at an average cost of $71.94 per share, for a total transaction of $372,433.38.
  • On Tuesday, August 16th, Tobias Lutke bought 4,023 shares of Coinbase Global stock. The shares were purchased at an average price of $90.55 per share, with a total value of $364,282.65.
  • On Thursday, August 11th, Tobias Lutke bought 3,930 shares of Coinbase Global stock. The shares were purchased at an average price of $97.24 per share, with a total value of $382,153.20.

Coinbase Global Price Performance

Shares of COIN opened at $74.00 on Friday. The company has a market capitalization of $16.24 billion, a P/E ratio of -36.63 and a beta of 3.31. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $72.21 and a 200 day moving average of $98.14. Coinbase Global, Inc. has a twelve month low of $40.83 and a twelve month high of $368.90.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) earnings per share for the quarter, missing the consensus estimate of ($3.04) by ($1.91). The firm had revenue of $808.33 million for the quarter, compared to the consensus estimate of $877.32 million. Coinbase Global had a negative net margin of 4.79% and a negative return on equity of 4.61%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post -10.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Coinbase Global in the 4th quarter worth approximately $25,000. Wagner Wealth Management LLC bought a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. Cornerstone Advisory LLC bought a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. Kessler Investment Group LLC bought a new stake in Coinbase Global in the 4th quarter worth approximately $32,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Coinbase Global in the 4th quarter worth approximately $33,000. Institutional investors own 49.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on COIN shares. Keefe, Bruyette & Woods lowered shares of Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 target price for the company. in a report on Wednesday, August 10th. Barclays dropped their target price on shares of Coinbase Global from $80.00 to $73.00 and set an “equal weight” rating for the company in a report on Wednesday, September 7th. DA Davidson increased their target price on shares of Coinbase Global from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. JMP Securities lowered their price objective on shares of Coinbase Global from $205.00 to $195.00 and set a “market outperform” rating for the company in a report on Wednesday, August 10th. Finally, Cowen began coverage on shares of Coinbase Global in a report on Thursday, May 26th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.14.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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